U.S. insurtech startup Kin Insurance announced on Thursday it secured $35 million through its Series B investment round, which was led by Commerce Ventures with participation from Hudson Structured Capital Management Ltd. (doing its reinsurance business as HSCM Bermuda), Flourish Ventures, QED, Alpha Edison, Allegis NL Capital, Avanta Ventures (the venture arm of CSAA Insurance Group), August Capital, the University of Chicago through its Startup Investment Program,
As previously reported, Kin describes itself as an insurtech startup and licensed insurance carrier that is on a mission to fix home insurance through intuitive tech, affordable pricing, and world-class customer service.
“Launched by seasoned financial tech entrepreneurs Sean Harper and Lucas Ward in 2016, Kin is committed to serving catastrophe-prone regions and coastal homeowners most impacted by climate change. We are headquartered in Chicago with an office in Tampa Bay and currently serve Florida, Texas, Georgia, and Alabama.”
Kin secured $47 million in 2019. The latest investment round brings Kin’s total funding to date to $86 million. While sharing details about the company’s growth and development so far, Sean Harper, Kin’s CEO and Co-Founder, stated:
“Since we established our carrier last summer, we have been able to innovate much faster because we depend less on legacy insurance infrastructure.”
To support its growth, Kin added it is actively hiring tech and sales talent in both Chicago, Illinois, and St. Petersburg, Florida.
